Home construction off to slower start than last year

Breaking News May 08, 2017 12:46

By The Nation

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Bangkok and its suburbs saw 24,168 new homes, collectively worth Bt78.44 billion, built in the first quarter of this year, at an average price of Bt3.24 million, the Agency for Real Estate Affairs reported on Monday.

The agency predicted there would be fewer new residential projects launched this year than in 2016 – 13 per cent less in terms of units and 18 per cent in terms of value. It based the forecast on first-quarter project starts this year compared to last.

However, it said, if the remaining nine months of 2017 see more units built at greater overall value, beyond 20 per cent quarter by quarter, overall market growth could exceed that of last year

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